Deposit Insurance Proposal Due: Deputy Treasury Secretary Frank Newman said the Clinton Administration will recommend a solution to problems that could arise from a disparity in the country's two deposit insurance funds. Newman did not specify what the recommendation will be, but it could come as early as March 23, when the House Banking Committee has hearings on the Bank Insurance Fund and the Savings Assn. Insurance Fund. The Federal Deposit Insurance Corp., the agency that insures bank deposits, has proposed sharply cutting BIF premiums paid by banks because the fund is close to fully funded. But no such cut has been proposed for savings and loans that pay into the SAIF.
Times Staff and Wire Reports
Copyright © 2019, Los Angeles Times